SEOUL, May 17 (Korea Bizwire) —Yogiyo made an announcement on Wednesday about the introduction of YogiPassX, which is the first subscription service in the industry that offers unlimited delivery services for a fixed fee. This move comes as consumers are increasingly reducing their usage of delivery apps due to the rising costs associated with deliveries. [...]
SEOUL, May 16 (Korea Bizwire) — Samsung Electronics Co. and the Bank of Korea (BOK) on Monday signed an agreement to advance technology related to the offline central bank digital currency (CBDC) currently under development. In the previous year, Samsung participated in the central bank’s second phase of the CBDC mock test research. As a [...]
SEOUL, May 9 (Korea Bizwire) — Foreign investors bought a net 5.96 trillion won (US$4.5 billion) worth of South Korean stocks and bonds in April, logging the biggest monthly purchase in 16 months, the country’s financial regulator said Tuesday. Foreigners bought a net 1.27 trillion won worth of listed stocks, turning to net buyers from [...]
SEOUL, April 30 (Korea Bizwire) — South Korea recorded the biggest fall in exports to China among major exporters to the country in the first quarter, China’s trade data showed Sunday. Exports to China plunged 28 percent in the first quarter from a year earlier due mainly to a sharp decline in semiconductor shipments, the [...]
SEOUL, April 30 (Korea Bizwire) — Debt among those in their 20s and 30s jumped more than 27 percent over the past three years since the COVID-19 pandemic hit, indicating they suffered financial difficulties due to rising home prices and an economic slowdown, central bank data showed Sunday. In the fourth quarter of 2022, overall [...]
SEOUL, April 27 (Korea Bizwire) — Kakao Pay Corp., the fintech unit of South Korean tech giant Kakao, said Thursday it plans to acquire a controlling stake in Siebert Financial Corp., a U.S. brokerage firm, as part of efforts to expand its financial business abroad. Kakao Pay said in a regulatory filing it has signed [...]
SEOUL, April 14 (Korea Bizwire) — The commission income earned by banks from virtual asset exchanges in Korea was halved last year due to the market downturn. The five major virtual asset exchanges, including Upbit and Bithumb, paid a total of 20.4 billion won (US$15.5 million) to banks that signed contracts to issue real-name accounts in [...]
SEOUL, April 14 (Korea Bizwire) —Homeplus, a large discount store in South Korea, has reported a 36% increase in sales of its own-brand “Homeplus Signature” products from January to March compared to the same period last year. The sales of private label products were particularly high in food categories such as refrigerated convenience foods, snacks, [...]
SEOUL, April 13 (Korea Bizwire) —GS E&C, the owner of the Xi apartment brand, is expanding into the single-family home market. The company announced on Thursday that its subsidiary, XiGEIST, which specializes in wooden modular houses, will launch its website and commence business-to-consumer (B2C) sales in earnest. The modular houses are produced in a factory [...]
SEOUL, April 12 (Korea Bizwire) — With the price of gold surging in recent days, an increasing number of investors are buying actual gold products. According to industry sources, the value of gold bars sold through the nation’s four major banks during the period from April 1 to 6 stood at about 2.49 billion won [...]